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Basilea Pharmaceutica (BSLN.SW) Receives Request for Extraordinary Shareholders Meeting to Elect Additional Members to the Board of Directors


10/6/2011 9:16:03 AM

BASEL, SWITZERLAND--(Marketwire - October 06, 2011) -

Basilea Pharmaceutica AG /

Basilea receives request for extraordinary shareholders meeting to elect additional members to the board of directors

Processed and transmitted by Thomson Reuters ONE.

The issuer is solely responsible for the content of this announcement.

Basel, Switzerland, October 6, 2011 - Basilea Pharmaceutica Ltd. (SWISS: BSLN) announced today that it has received a request to hold an extraordinary shareholders meeting.

Basilea has received a request from its shareholder HBM BioVentures (Cayman) Ltd., which holds more than 15% of Basilea's shares, to convene an extraordinary shareholders meeting and expand the current five member board. HBM indicated its commitment to a long-term effort and a close relationship with Basilea's existing board. HBM proposes to nominate for election as additional members to the board of directors Dr. Thomas Werner, Dr. Seng Chin Mah, Dr. Thomas M. Rinderknecht and a fourth candidate yet to be named.

Basilea's board of directors will evaluate the request, set the date and the agenda of the meeting and publish the invitation in due course. Basilea anticipates that the meeting will take place at around the end of November.

About Basilea

Basilea Pharmaceutica Ltd. is headquartered in Basel, Switzerland, and listed on the SIX Swiss Exchange (SWISS: BSLN). Basilea Pharmaceutica International Ltd.'s fully integrated research and development operations are focused on antibiotics, antifungals and oncology drugs, as well as on the development of dermatology drugs, targeting the medical challenge of resistance and non-response to current treatment options in the hospital and specialty care setting.

Basilea is currently marketing Toctino® (alitretinoin), the only approved treatment for adults with severe chronic hand eczema unresponsive to potent topical corticosteroids, in Denmark, Finland, France, Germany, Norway, Switzerland and the United Kingdom and has appointed distributors for Toctino® in other selected European markets, Canada, Israel, Mexico and the Republic of Korea. A phase III clinical program on alitretinoin for the treatment of severe chronic hand eczema is ongoing in the U.S.

For its phase III compound isavuconazole, a potential best-in-class azole antifungal for the treatment of life-threatening invasive fungal infections, the company has entered into a license, co-development and co-promotion agreement with Astellas Pharma Inc.

In addition, Basilea is developing ceftobiprole, a late-stage novel anti-MRSA (methicillin-resistant Staphylococcus aureus) broad-spectrum cephalosporin antibiotic, for the first-line treatment of potentially life-threatening resistant bacterial infections. Ceftobiprole has a broad coverage of both Gram- positive bacteria, including MRSA, and many clinically important Gram-negative bacteria such as Pseudomonas spp.

Basilea's BAL30072, a novel antibiotic for the treatment of resistant Gram- negative infections, and the oncology drug BAL101553 for the treatment of drug- resistant cancers are in phase I clinical testing.

Disclaimer

This communication expressly or implicitly contains certain forward-looking statements concerning Basilea Pharmaceutica Ltd. and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd. is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

This press release can be downloaded from www.basilea.com.

--- End of Message ---


Basilea Pharmaceutica AG
Grenzacherstrasse 487
P.O Box Basel Switzerland Listed: Freiverkehr in Börse Stuttgart, Freiverkehr in Börse Berlin, Open Market (Freiverkehr) in Frankfurter Wertpapierbörse, Freiverkehr in Bayerische Börse München;

Press release (PDF): http://hugin.info/134390/R/1552527/478358.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Basilea Pharmaceutica AG via Thomson Reuters ONE

[HUG#1552527]


For further information, please contact:

Media Relations
Peer Nils Schroder, Ph.D.
Head Public Relations & Corporate Communications
+41 61 606 1102
Email Contact

Investor Relations
Barbara Zink, Ph.D., MBA
Head Corporate Development
+41 61 606 1233
Email Contact


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